WMT wheel: cash-secured put & covered-call yields
Walmart Inc. Common Stock · Consumer discretionary · $125.67 close on Nov 11, 2026
What the Nov 11, 2026 close says about WMT
At 30.4% implied volatility, the options market is pricing a one-standard-deviation move of about $10.96 (8.7%) in WMT by Dec 11, 2026, 30 days out.
Selling the $120 put (−0.30Δ) for $2.46 means assignment would leave a cost basis of $117.54, 6.5% below the $125.67 close.
The 65-day 0.30Δ put pays 1.4× the premium of the 30-day one for 2.2× the time — more premium per day on the 30-day contract ($0.082 vs $0.053).
At 0.30Δ on the Dec 11 expiry the put yields 2.05% on its strike and the call 1.73% on spot: puts pay 1.2× what calls do on WMT this session.
Moving down to the $117 put (−0.21Δ) buys 2.4% more room below spot and keeps 66% of the 0.30Δ premium.
Open interest in the stored window totals 132,857 contracts; the largest single line is the $135 call expiring Jan 15 with 20,394 (15.4% of the window).
WMT goes ex-dividend on Dec 11, 2026 ($0.25 declared), inside the Dec 11 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume WMT ranks #73 of 679 names in our universe.
Near-the-money options volume (251) is 91% below its 5-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on WMT
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $120 | −0.30 | $2.46 Nov 11 | $246.00 | $12,000 | 2.05% | 24.9% | $117.54 | 48 | 13 |
| 0.20Δ | $117 | −0.21 | $1.62 Nov 11 | $162.00 | $11,700 | 1.38% | 16.8% | $115.38 | 32 | 21 |
Snapshot #9271 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $120 | −0.32 | $3.45 Nov 11 | $345.00 | $12,000 | 2.88% | 16.1% | $116.55 | 5,721 | 243 |
| 0.20Δ | $115 | −0.21 | $1.98 Nov 11 | $198.00 | $11,500 | 1.72% | 9.7% | $113.02 | 14,970 | 400 |
Snapshot #9271 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on WMT
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $132 | 0.34 | $2.18 Nov 11 | $218.00 | 1.73% | 21.1% | 6.77% | 82.4% | 102 | 1 |
| 0.20Δ | $138 | 0.18 | $1.13 Nov 11 | $113.00 | 0.90% | 10.9% | 10.71% | 130.3% | 4 | 1 |
Snapshot #9271 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $135 | 0.31 | $2.83 Nov 11 | $283.00 | 2.25% | 12.6% | 9.68% | 54.3% | 20,394 | 619 |
| 0.20Δ | $140 | 0.21 | $1.59 Nov 11 | $159.00 | 1.27% | 7.1% | 12.67% | 71.1% | 12,123 | 219 |
Snapshot #9271 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
WMT volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 30.4%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- Ex-div Dec 11, 2026 · $0.25 declaredchecked Nov 9, 2026
- Open interest, stored window
- 132,857 contractssession 2026-11-11
- Largest open-interest line
- $135 call · Jan 15 · 20,394
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #73 of 679 optionable names by options volume
How these numbers are made
One end-of-day snapshot per session from a 15-minute-delayed feed. A premium is a contract’s last trade, used only if it printed that session, sits above intrinsic value and is in order with its neighbours; deltas are the feed’s own. Expiries are the first at least 30 and 60 days out, and nothing under 30 days is annualized. Not investment advice. Full methodology.
- We are building our own daily implied-volatility history (34 of 252 sessions so far); IV rank and percentile need a full year of it.
- Our data provider does not license announced earnings dates, and we do not publish estimates.
- Our data feed carries last trades, not live bid/ask quotes, so we cannot show a spread.